CALIFORNIA Real Estate Exam 2024 Practice Questions Latest Update 2024-2025 Actual Exam with 175 Questions and 100% Verified Correct Answers Guaranteed A+ Approved by the Professor
A balloon payment is usually associated with a:
Variable mortgage that varies with the cost of living index Blanket mortgage Large payment during the term or at the end of the payment schedule
Package mortgage - CORRECT ANSWER: Large payment during the term or at the end
of the payment schedule.
A broker who holds a valid listing on a property places a classified ad for the property containing only the following information "For Sale - 3 bedroom, 2 bath home with swimming pool. Asking price $165,000. Telephone 555-9276". This type of
advertisement would be an example of a:
Silent ad Qualified ad Display ad
Blind ad - CORRECT ANSWER: Blind ad
Blind advertising is any real estate advertisement that does not properly identify the broker. A salesperson must always remember to include the employing broker's name in the advertisement.
A contract between two parties both giving a promise for a promise is called a:
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Unilateral contract Bilateral contract Special agreement
Collusion - CORRECT ANSWER: Bilateral contract
A contract in which all parties have fulfilled their promises is a(n):
Completed contract Expired contract Executory contract
Executed contract - CORRECT ANSWER: Executed contract
A contract that does not have all the necessary elements of a contract is:
Valid Void Enforceable by insinuation
Legally binding - CORRECT ANSWER: Void
A contract that does not have all the necessary elements of a contract is void and unenforceable by either party.
A fence that extends onto the land of another from a neighboring property is called an:
Encumbrance Easement Encroachment
Escheat - CORRECT ANSWER: Encroachment
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A fiduciary who holds or controls property for the benefit of another is called:
A beneficiary A grantor A trustee
A grantee - CORRECT ANSWER: A trustee
A hispanic man called a landlord regarding a home for rent online. The landlord tells him the property is already rented. His white friend then called the landlord to inquire about the property and he arranged an appointment to show him the home. This is
discrimination based on:
Race Familial status Income
Religion - CORRECT ANSWER: Race
A lease where the tenant pays the property taxes, maintenance and other expenses is
a:
Percentage lease Gross lease Sandwich lease
Net lease - CORRECT ANSWER: Net lease
A listing agreement in writing creates which form of agency?
Negligent agency Implied agency Express agency 3 / 4
Ostensible agency - CORRECT ANSWER: Express agency
A written listing agreement creates an expressed agency. The agency relationship is expressed in writing.
A new roof costs $7,500 and the economic life of the roof is 30 years. Using the straight line depreciation method, what would the value of the roof be after 5 years?
$1,250
$5,500
$6,250
$1,500 - CORRECT ANSWER: $6,250
$7,500 / 30 years = $250 $250 x 5 years =$1,250 total depreciation
$7,500 - $1,250 = $6,250
A partition suit is used for which of the following?
To allow construction of party walls To change a tenancy by entireties to some other form of ownership To force a division of property without all the owners' consents
Determination of party fences - CORRECT ANSWER: To force a division of property
without all the owners' consents.
A person makes an offer to purchase a property that was shown to them by their broker, but then waits to present the offer to the seller until later that day. In the meantime, two more offers were submitted on the property. Under the rule of agency, the offer:
Is considered to be void because only one offer at a time can be placed on a property
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